• Target announces elimination of 1,800 corporate roles, marking its first major layoff in a decade.
• About 1,000 employees will receive layoff notices as part of a plan to improve efficiency and decision-making.
• The move comes amid four years of stagnant sales and a declining stock price.

In a strategic move to address declining sales and streamline operations, Target is set to eliminate approximately 1,800 corporate positions, representing about 8% of its global corporate workforce. This decision marks the retailer's first major layoff in nearly a decade, aimed at reversing a trend of stagnant sales that has plagued the company for the past four years, according to ABC News, India Times, and BBC.

Incoming CEO Michael Fiddelke, set to take over in February, cited the restructuring as necessary to combat the complexities that have hindered decision-making and creativity within the company. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life,” he mentioned in a memo, emphasizing the importance of this restructuring in building Target's future, according to India Times and Los Angeles Times.

About 1,000 employees are expected to receive layoff notices shortly, alongside the elimination of another 800 vacant roles. While these cuts primarily affect corporate employees at Target's Minneapolis headquarters, the changes do not extend to retail workers or those in supply chain roles. The layoffs reflect the company’s intent to improve operational efficiency amid ongoing financial challenges, with comparable sales declining in several quarters over the past three years, as noted by ABC News and SFGate.

Fiddelke's tactics, which he discussed upon his appointment, focus on enhancing the customer experience, ensuring merchandise selection meets consumer expectations, and improving store presentations. He has acknowledged the need for an urgent turnaround, stating in his communications that these layoffs are a significant step in restoring Target’s competitive edge against rivals such as Walmart and Amazon, according to Los Angeles Times, India Times, and BBC.